Walker Greenbank warns of profit hit from Storm Desmond

Luxury interior furnishings group Walker Greenbank cautioned that its profit will take a hit as the factory of Standfast & Barracks, its printing business in Lancaster, suffered substantial flooding during the heavy rain brought on by Storm Desmond at the weekend.

The company, whose brands include Sanderson, Harlequin and Morris & Co, said it is carrying out an urgent assessment of the effects of the flooding and expects a period of disrupted production at the factory as well an adverse impact on machinery, stock and profits.

“The company has a comprehensive insurance policy, which covers flood damage and business interruption, and a claim has already been logged.”

A further announcement will be made when the effects of the flooding have been appraised.

At 1532, Walker Greenbank shares were down 3.9% to 208.62p.